An analysis of the transactions made by Cheyenne Corp., a

An analysis of the transactions made by Cheyenne Corp., a certified public accounting firm, for the month of August, its first month of operations is shown below.

Assets = Liabilities + Stockholders’ Equity
Cash  +  Accounts
Receivable
 +  Supplies  +  Equipment Accounts
Payable
Common
Stock
Retained Earnings
 =   +   +  Revenues  –  Expenses  –  Dividend
1. $15,850 $15,850
2. –2,700 $5,700 $3,000
3.  –750 $750
4. 6,300 $3,200 $9,500 Service Revenue
5. –1,700 –1,700
6. –1,400 -$1,400
7. –750 –$750 Rent Expense
8. 350 –350
9. –3,950 –3,950 Salaries/Wages Expense
10. 400 –400 Utilities Expense
(a)Prepare an income statement for August.

Cheyenne Corp.
Income Statement
Choose the accounting period  August 31, 2019For the Year Ended August 31, 2019For the Month Ended August 31, 2019
Select an opening name for section one  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment
Select an item $Enter a dollar amount
Select an opening name for section two  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment
Select an item $Enter a dollar amount
Select an item Enter a dollar amount
Select an item Enter a dollar amount
Select a closing name for section two     Dividends    Expenses    Net Income / (Loss)    Retained earnings, August 1    Retained earnings, August 31    Revenues    Total Expenses    Total Revenues    Investment     Enter a total amount for section two
Select a closing name for this statement  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment $Enter a total amount for this statement
Click if you would like to Show Work for this question: Open Show Work

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